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The Medicines Company nixes development of plaque buster MDCO-216; shares off 6% after hours

Published 11/07/2016, 06:22 PM
Updated 11/07/2016, 06:22 PM
The Medicines Company nixes development of plaque buster MDCO-216; shares off 6% after hours
  • The Medicines Company (NASDAQ:MDCO) slumps 6% after hours on average volume in response to its announcement that it has terminated development of MDCO-216, an investigational cholesterol efflux promoter that it once believed had therapeutic potential for reducing atherosclerotic plaque.
  • The company's decision is not surprising. Results from the Phase 2 MILANO-PILOT study failed to demonstrate sufficient efficacy.
  • The company says another factor influencing its decision is the emerging positive data from another mid-stage study, ORION-1, assessing its PCSK9si candidate for the treatment of high cholesterol. It intends to reallocate MDCO-216's budget to this more promising candidate.
  • Previously: The Medicines Company's mid-stage study assessing plaque buster MDCO-216 falls short of criteria for early termination; shares off 8% after hours (Aug. 30)

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